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    2 Replies Latest reply on Dec 8, 2008 6:35 PM by NoBullFunding

    In need of a loan

    dcm34205 Newbie
      I co-own a small used car dealership and am looking for a short term loan to fund my recievables. In our first year and a half we have amassed roughly 300,000 in recievables and over 100,000 in inventory with just over a 100,000 initial investment. We have a small staff (2) and our own service department. We have yet to take a paycheck out of the business because we have a transportation business that is our primary source of income.

      Basically we are at a point where we feel that we can experience tremendous growth but are qucikly out growing our cash. Any ideas??
        • Re: In need of a loan
          LUCKIEST Guide
          In need of a loan, Welcome

          Tell me more. Go to Members page and share some info.

          How short term?? Do you have a Business Plan that I can read??

          • Re: In need of a loan
            NoBullFunding Scout
            Its hard to say what your options are without knowing the details of your business or how much you need. If you are interested in going the loan route, I'd be happy to review and give you my opinion (free of charge). To make an an honest assessment I'd need a good amount of info, but its what a bank would ask for so it would be good to have all that info together anyway. Info would include 2006, 2007 and YTD financials; 2007 personal taxes; PFS; A/R and A/P schedules.